ISLAMABAD: Prime minister, Imran Khan, rejected a summary of Oil and Gas Regulatory Authority (OGRA), seeking 10 to 12 percent increase in the oil prices. The rejection of the OGRA proposal will keep the oil prices at existing level for September 2020, and give some relief to the commuters, in particular, and public at large in general.
According to a statement issued by the prime minister media cell on August 31, the prime minister did not agree to OGRA proposal for increase in the oil prices for September 2020. The statement said while rejecting OGRA proposal, the prime minister noted since the people were already facing difficult times due to Corona pandemic and current floods in the country, they cannot afford to have increase in the oil prices. The government had revised the oil prices upward two times in the last two months and it had invited severe criticism from the opposition parties and the public at large. The increase in oil prices always have spiral affect and gives spike to the prices of day-to-day usage. It also stokes the cost of travel and other expense to add considerably to the burden on the people. The OGRA had suggested in its summary to revise the oil prices upward minimum by Rs 5 per litre for September 2020. The increase in the oil price could have added by a few billions rupee to the government revenue and revised income of the oil companies, dealers and retailers upward for next 30 days, but it could add considerably to the financial burden of the commuters. Its spiral affect could stoke the prices of daily use and hence put more burden on the public at large.
